As the year draws to a close, we can be pretty certain that the mini-boom of 2021 will continue into early 2022. Our results over the past 12 months track the market momentum with the team securing 732 sales in 2021, up from 586 in 2020, with an auction clearance rate of a very robust 97.1% (up from 96.3% in 2020). Our team has met 35,621 buyers over the year and sold a total of $2.226 billion which is another record-breaking year for PPD.

Changes in lifestyle from hybrid working to home learning combined with ongoing travel restrictions have undoubtedly driven sales in key locations close to beaches, fresh air and green open space. Bronte has experienced the biggest jump in 2021 with the median house price increasing 55% over the year to $5.35m and South Coogee has also witnessed unprecedented demand with the median house price increasing by over $1m. Alexander Phillips says, “2021 has been the perfect storm for selling with the three main factors influencing the market being record low interest rates, scarcity of stock and buyers being laser-focused with none of the usual disruptions leading to staggering growth.The three influencers started to ease off in November with the end of lockdown and a rise in stock levels. For 2022, we’re expecting to see a strong start to the year with growth tapering off so our advice for those looking to sell next year would be to list in the first quarter for the best result.”

We’d like to take the opportunity to wish you all a safe and happy festive season and hope you enjoy the time to relax, recharge and have fun with your family and friends. Our offices close for the holiday break at the end of today and will reopen on Wednesday 5th January. As always, our sales and management teams are only a phone call or email away and will be happy to assist in any way they can. Thank you for your continued support over the year and we look forward to working with you in 2022! Take care, stay safe and keep connected.